L’applicazione del modello EVA nel settore energetico: confronto tra imprese brown energy e imprese green energy

[Autom. eng. transl.] The valuation model based on Economic Value Added (EVA) allows to measure the ability of a company to produce an economic surplus with respect to the cost of its invested capital. By analyzing a sample of forty European listed companies in the "Oil & Gas" sector (distinguishable between companies operating with traditional technologies and "green" companies) for the period 2018-2022, the article aims to understand what are the determinants for the creation of economic added value in these companies in light of the EVA model. The results suggest the presence of some differences between the two groups of companies, which vary over time and which seem to attenuate following the Covid-19 pandemic. Finally, it emerges that the application of the EVA model can also be relevant from the perspective of company management, since it encompasses all the dimensions of the company business on which management can operate to aim at maximizing business value.